According to ME News, on August 13 (UTC+8), Elliptic, the Digital Assets Association (DAA), the Responsible Fintech Institute (RFI), and Baker McKenzie established the "Project Pigeon" working group in Singapore to develop governance and risk management standards for licensed financial institutions in Asia-Pacific using permissionless blockchains, building on the Monetary Authority of Singapore’s (MAS) related consultation paper issued in April. The framework covers four key risk pillars—governance, technology, settlement finality, and anti-money laundering—and is scheduled to release industry guidelines in the first quarter of 2027. (Source: Foresight News)
Elliptic and Others Launch Project Pigeon in Singapore to Develop Governance Standards for Permissionless Blockchains
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Summary
Project Pigeon, a new initiative announced by Elliptic, DAA, RFI, and Baker McKenzie, aims to establish governance standards for permissionless blockchain use in the Asia-Pacific region. Building on MetaEra, the group will address four key risk areas: governance, technology, settlement finality, and AML. The announcement of project funding follows Singapore’s MAS releasing a consultation paper in April 2026, with guidelines expected in Q1 2027.
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